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Philips Slammed With $467M Verdict In Masimo Patent Trial

A Delaware federal jury on Wednesday awarded Masimo Corp. $466.7 million for Philips Electronics North America Corp.’s infringement of two patents for measuring blood oxygen levels, rejecting Philips’ arguments that the patents were invalid.

  • Stockton Ch. 9 Judge Rules Cities Can Cut Pensions

    The judge presiding over Stockton, California’s bankruptcy said Wednesday that the city can cut its pension obligations to the California Public Employees' Retirement System, a monumental decision that could reshape municipal insolvencies in the state.

  • SEC Admin Proceedings Are Unconstitutional, Suit Claims

    An activist investor facing an “imminent” U.S. Securities and Exchange Commission fraud suit filed his own complaint in New York federal court alleging SEC administrative actions are unconstitutional because the agency’s administrative law judges have too many layers of tenure protection.

  • Ford Isn't Owed $445M In Tax Interest, 6th Circ. Says

    The Internal Revenue Service doesn't owe Ford Motor Co. $445 million in interest on alleged overpaid taxes, a Sixth Circuit panel ruled Wednesday, saying a law that Ford had relied upon had not been enacted when the automaker remitted the payments at the center of the dispute.

  • JPMorgan Says It's Paid Out 5th Of Required Consumer Aid

    JP Morgan Chase & Co. says it has doled out $869 million of the $4 billion in consumer aid it is required to provide under the terms of its $13 billion deal with the U.S. Justice Department over its alleged faulty lending during the housing boom years, according to an independent monitor hired to track the bank’s progress.

  • DeLay Cleared By Texas High Court In Money-Laundering Case

    Texas’ highest criminal court on Wednesday affirmed the acquittal of former U.S. Rep. Tom DeLay on money-laundering charges stemming from his alleged orchestration of illegal transfers of soft-money political action committee donations to hard-money campaign donations.